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Economics Flashcards | StudBud

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Economics

8 terms·StudBud Administration·55 plays

#political and Economic analysis

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Questions 8

Answers

1
Economic term for the four categories of resources: land, labor,capital, and entrepreneurship.
market economy
Factors of Production
Resources
economy
2
what are the four categories of factors of production?
labor, land,capital, and infrastructure
land, labor, capital, and enterprise
land, labor, capital, and entrepreneurship
acre, labor, capital, and entrepreneurship
3
Define Entrepreneurship
The process of starting and operating your own business.
Physical development of a country.
forces nations to make economic choices.
The process of starting and operating someones business.
4
A social, political, and economic philosophy in witch the gov., usually authoritarian, controls
Socialism
Capitalism
Communism
mixed Economies
5
Organized way a nation provides for needs and wants of its people.
economic risks
environmental scan
equity
Economy
6
A physical development of a country
economy
market economy
Infrastucture
scarcity
7
A system in which a country's government makes economic decisions.
Command economy
traditional economy
market economy
depression
8
When they talk about resources.
infrastructure
scarcity
entrepreneurship
factors of production